We assist organizations to identify, analyze, manage and/or exploit risks and to develop appropriate risk strategies and response plans. Our approach puts risk management at the heart of the business strategy.
Fraud Risk Management
Let’s empower you with fraud prevention strategies. We will undertake a fraud risk assessment and provide a prioritized action plan to prevent fraud. We provide services to empower our clients to prevent fraud before it occurs. Anti-fraud includes doing a review to access the organization’s readiness for managing fraud risks. In Kenya, fraud risk is one of the biggest problems. Loss of money to fraud in a business is like loss of blood to a human being. If you keep losing money through small unaccounted for activities, which people do not readily see like staff printing personal work on company stationery, at the end of the day the expenses bill is increasing.
Under antifraud, we review your readiness to check whether the organization has policies and procedures to prevent fraud. But most importantly, we assess whether this kind of fraud schemes have been clearly defined. If policies are not in place, we work with management to ensure we develop and document them. Has it approved by the Board since it is responsible for the policy. If policies are in place, we ensure they are aligned with leading practices but most importantly put into the context of that particular business. We review and ensure they are properly documented.
In addition to doing readiness for fraud risk assessment, we train people to implement them. This is usually enterprise-wide. At the end of the training, staff sign anti-fraud declaration and anti-fraud policy and procedures. This requires staff to attest as having read and understood all the provisions in the anti-fraud policy and procedures. This provides a good platform for ongoing implementation. The ANTIFRAUD solution is a proactive solution to fighting fraud in organizations.
Our Approach to Risks
While the typical risk management approach may appear theoretical and focuses on risks from a negative perspective, our approach is practical and ensures that our clients manage risks while being aware that risks and opportunities are two sides of the same coin. In today’s fast-changing world where organizations seek to do more with less, risk management can be a competitive advantage. Our philosophy is that risk management is an enabler and not a hindrance to business opportunities.